Latin America and the Caribbean: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Latin America and the Caribbean

In 2021, the Latin American market for hot-rolled steel bars and rods increased by 11% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Steel Bars and Rods in Latin America and the Caribbean

In value terms, hot-rolled steel bar and rod production amounted to $X in 2021 estimated in export price. In general, production saw a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 4.2%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Steel Bars and Rods

Exports in Latin America and the Caribbean

In 2021, hot-rolled steel bar and rod exports in Latin America and the Caribbean surged to X tons, jumping by 20% against the previous year's figure. Overall, exports, however, continue to indicate a pronounced curtailment. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel bar and rod exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a slight slump. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X tons) was the main exporter of hot-rolled steel bars and rods, achieving 37% of total exports. Chile (X tons) ranks second in terms of the total exports with a 13% share, followed by Mexico (12%), the Dominican Republic (8.8%), Peru (8.6%), Argentina (6.1%) and Guatemala (4.6%).

From 2012 to 2021, average annual rates of growth with regard to hot-rolled steel bar and rod exports from Brazil stood at +2.4%. At the same time, Chile (+26.1%), Peru (+9.8%), the Dominican Republic (+5.7%) and Guatemala (+3.0%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +26.1% from 2012-2021. By contrast, Argentina (-5.9%) and Mexico (-14.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Chile, Peru, the Dominican Republic and Guatemala increased by +14, +12, +5.7, +4.7 and +1.9 percentage points, respectively.

In value terms, the largest hot-rolled steel bar and rod supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), with a combined 68% share of total exports.

Chile, with a CAGR of +27.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2018 an increase of 21% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.6%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Steel Bars and Rods

Imports in Latin America and the Caribbean

In 2021, hot-rolled steel bar and rod imports in Latin America and the Caribbean skyrocketed to X tons, increasing by 48% against 2020. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod imports surged to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Peru (X tons), Brazil (X tons), Colombia (X tons), Mexico (X tons), Chile (X tons), Bolivia (X tons), Guatemala (X tons), Haiti (X tons), the Dominican Republic (X tons), Argentina (X tons), Paraguay (X tons) and El Salvador (X tons) represented the major importer of hot-rolled steel bars and rods in Latin America and the Caribbean, making up 85% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Haiti (with a CAGR of +15.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Peru ($X) and Brazil ($X) were the countries with the highest levels of imports in 2021, together comprising 41% of total imports. These countries were followed by Colombia, Chile, Bolivia, Guatemala, the Dominican Republic, Argentina, Haiti, El Salvador and Paraguay, which together accounted for a further 46%.

In terms of the main importing countries, Guatemala, with a CAGR of +14.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 27% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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